WINNEBAGO INDUSTRIES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WINNEBAGO INDUSTRIES INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,547	2,017	1,986	2,356	3,630	4,958	3,491	2,974	2,798	2,704
Cost of revenue	1,325	1,717	1,678	2,043	2,979	4,028	2,905	2,540	2,433	2,354
Gross profit	223	300	307	313	650	929	586	434	365	350
Selling, general and administrative	97.6	130	142	177	229	316	268	280	286	262
Selling and marketing	35.7	49.9
General and administrative	55.3	78.1
Operating expenses	97.5	139	152	199	243	346	285	333	308	284
Operating income	125	160	155	114	407	584	301	100	57.2	66.2
Interest expense	16.8	18.2	17.9	37.5	40.4	41.3	20.5	21.1	25.9	20.9
Other non-operating income	0.33	0.49	1.58	0.97	0.5	-27.5	-1	-8	0.8	-0.1
Pre-tax income	109	143	139	77.3	368	515	279	38.4	30.1	44.4
Income tax	37.3	40.3	27.1	15.8	85.6	124	63.3	25.4	4.4	9.9
Net income	71.3	102	112	61.4	282	391	216	13	25.7	34.5
EBITDA	132	170	169	130	426	608	348	159	118	126
EPS, basic	2.33	3.24	3.55	1.85	8.41	12.03	7.12	0.44	0.91	1.22
EPS, diluted	2.32	3.22	3.52	1.84	8.28	11.84	6.23	0.44	0.91	1.21
Shares, basic (weighted)	30.6	31.6	31.5	33.2	33.5	32.5	30.3	29.2	28.2	28.2
Shares, diluted (weighted)	30.8	31.8	31.7	33.5	34.1	33	35.4	29.5	28.3	28.4
Dividend per share	0.40	0.40	0.43	0.45	0.66	0.81	1.12	1.27	1.37	1.41

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	35.9	2.34	37.4	293	435	282	310	331	174	181
Receivables	125	165	158	221	254	254	179	184	192	154
Inventory	142	195	201	183	341	526	471	439	396	405
Other current assets	11.4	9.88	14.1	17.3	29.1	31.7	37.7	35.6	29.8	38.7
Total current assets	314	372	411	714	1,059	1,094	997	989	792	778
Property, plant and equipment	71.6	101	128	175	191	276	327	339	333	318
Lease right-of-use assets			0	29.5	28.4	41.1	42.6	46.6	41.6	39.6
Goodwill	243	274	275	348	348	484	515	484	484	484
Intangible assets	228	266	256	405	390	472	502	479	457	435
Other non-current assets	5.49	10.3	8.14	15	16.6	20.4	20	17.2	19.4	18.2
Total assets	903	1,052	1,104	1,714	2,063	2,417	2,432	2,384	2,154	2,102
Accounts payable	79.2	81	81.6	132	180	218	147	145	129	174
Accrued liabilities	6.5	11.3	13.7	23.7	20.4	48.5	48.5	20.9	23.2	23.3
Short-term debt	2.85	0	8.89	0			0	59.1	0
Total current liabilities	167	204	198	300	407	522	396	405	327	359
Long-term debt	272	291	245	513	529	546	592	637	541	443
Lease liabilities			0	27	26.7	40.4	42	45.6	39.3	36.3
Other non-current liabilities	1.08	0.25	0.37	12.9	13.6	25.4	8.2	8.5	7	5.4
Total liabilities	461	517	472	886	1,006	1,154	1,064	1,111	930	865
Total debt	275	291	254	513	529	546	592	637	541	443
Paid-in capital	80.4	86.2	91.2	204	218	256	198	194	203	214
Retained earnings	679	769	867	914	1,173	1,538	1,748	1,723	1,710	1,704
Treasury stock	-343	-347	-351	-315	-360	-556	-603	-670	-714	-707
Other comprehensive income	-1.02	0.89	-0.49	-0.53	-0.49	-0.5	-0.4	-0.4	-0.4	-0.4
Shareholders' equity	442	534	632	828	1,057	1,263	1,368	1,273	1,225	1,237
Total equity	442	534	632	828	1,057	1,263	1,368	1,273	1,225	1,237
Total liabilities and equity	903	1,052	1,104	1,714	2,063	2,417	2,432	2,384	2,154	2,102
Shares outstanding				51.8	51.8

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	71.3	102	112	61.4	282	391	216	13	25.7	34.5
Depreciation and amortization	7.32	9.85	13.7	16	18.2	24.2	46.9	58.6	60.6	60
Stock-based compensation	2.98	7.43	7.06	6.48	15.3	17.1	10.9	14.6	15.8	16.9
Deferred income tax	8.36	5.78	7.98	-0.88	-2.2	-6.7	16.3	8.1	2.9	6.3
Change in receivables	-25.1	-37.7	6.42	-25.8	-33	1.9	76.7	-5.2	-8.2	38.5
Change in inventory	-6.17	-46.4	-8.26	106	-162	-171	63.8	27.2	40.5	-8.4
Change in payables	23.8	-1.28	0.91	37	51.5	27.2	-67.5	-3.9	-11.6	43.7
Cash from operations	97.1	83.3	134	270	237	401	295	144	129	169
Capital expenditures	-14	-28.7	-40.9	-32.4	-44.9	-88	-83.2	-45	-39.4	-24.1
Acquisitions	-392	-81.2	-0.7	-261	0	-228	-87.5	0	0
Cash from investing	-405	-112	-38.9	-293	-33	-316	-170	-45.9	-34.8	-18.5
Share buybacks	-1.53	-6.48	-8.17	-1.84	-47.6	-214	-55.1	-74.5	-53.7	-1.7
Dividends paid	-12.7	-12.7	-13.7	-14.6	-16.2	-23.8	-33.2	-36.8	-38.9	-39.9
Cash from financing	259	-5.19	-59.7	278	-62.3	-237	-96.8	-77	-251	-143
Net change in cash	-49.6	-33.6	35.1	255	142	-152	27.7	21	-157	7.4
Free cash flow	83.1	54.7	92.9	238	192	313	211	98.9	89.5	145
Interest paid	11.9	16.6	14.9	17.3	24.1	23.8	24.2	29	29.5	22.3
Income taxes paid	21.4	26.4	37.1	3.67	88.7	140	57.8	14.4	2.5	0.9

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $31.19 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	13.0%	Gross profit / revenue.
Operating margin	2.4%	Operating income / revenue.
EBITDA margin	4.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.6%	Pre-tax income / revenue.
Net margin	1.3%	Net income / revenue.
FCF margin	5.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.2%	Cash from operations / revenue.
Effective tax rate	22.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	2.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.6%	Net income / average total assets.
Return on invested capital (ROIC)	3.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	9.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.9%	Capital expenditures / revenue.
D&A / revenue	2.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-8.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-5.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-15.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-11.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	15.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-39.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-30.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	7.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-28.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-21.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	34.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-45.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-34.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	33.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-42.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-31.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	30.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-16.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-6.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	61.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-11.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-5.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	8.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	16.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	3.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-2.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-4.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-7.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.17x	Current assets / current liabilities.
Quick ratio	0.93x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.51x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.36x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	21.1%	Total debt / total assets.
Liabilities / assets	41.2%	Total liabilities / total assets.
Net debt	$261.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.08x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.17x	Operating income / interest expense.
Working capital	$419.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	43.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$317.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.27x	Revenue / average total assets.
Fixed asset turnover	8.31x	Revenue / average property, plant and equipment.
Inventory turnover	5.88x	Cost of revenue / average inventory.
Days inventory	62 days	365 x average inventory / cost of revenue.
Receivables turnover	15.7x	Revenue / average receivables.
Days sales outstanding	23 days	365 x average receivables / revenue.
Days payables	24 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	62 days	Days inventory + days sales outstanding - days payables.
FCF conversion	419.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	14.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$1.22	Net income per basic share, as reported (split-adjusted).
Revenue per share	$95.21	Revenue / diluted weighted shares.
FCF per share	$5.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.94	Cash from operations / diluted weighted shares.
Book value per share	$43.54	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$11.17	Tangible book value / shares outstanding.
Cash per share	$6.39	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.41	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	115.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	27.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	1.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$881.7M	Share price x shares outstanding.
Enterprise value	$1.14B	Market cap + total debt - cash - short-term investments.
P/E	25.6x	Market cap / net income. Only when net income is positive.
P/S	0.33x	Market cap / revenue.
P/B	0.71x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.78x	Market cap / tangible book value, when positive.
P/FCF	6.10x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.23x	Market cap / cash from operations, when positive.
EV/Sales	0.42x	Enterprise value / revenue.
EV/EBIT	17.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.06x	Enterprise value / EBITDA, when both are positive.
EV/FCF	7.91x	Enterprise value / free cash flow, when both are positive.
FCF yield	16.4%	Free cash flow / market cap.
Earnings yield	3.9%	Net income / market cap (the inverse of P/E).
Dividend yield	4.5%	Dividends paid over the period / market cap.
Shareholder yield	4.7%	(Dividends paid + share buybacks) / market cap.

What was WINNEBAGO INDUSTRIES INC's revenue in fiscal 2026?

WINNEBAGO INDUSTRIES INC reported revenue of $2.70B for fiscal 2026, 3.4% lower than the year before.

Was WINNEBAGO INDUSTRIES INC profitable in fiscal 2026?

Yes. Net income was $34.5M, a net margin of 1.3%.

How much free cash flow did WINNEBAGO INDUSTRIES INC generate in fiscal 2026?

Cash from operations of $168.7M minus capital expenditures of $24.1M left free cash flow of $144.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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